SMLF vs. DES ETF Comparison

Comparison of iShares FactorSelect MSCI USA Small-Cap ETF (SMLF) to SmallCap Dividend Fund (DES)

SMLF

iShares FactorSelect MSCI USA Small-Cap ETF

SMLF Description

The investment seeks to track the investment results of the MSCI USA Small Cap Diversified Multi-Factor Index (the "underlying index"), which has been developed by MSCI Inc. ("MSCI"). The underlying index is designed to select equity securities from MSCI USA Small Cap Index (the "Parent index") that have high exposure to four investment style factors: value, quality, momentum and low size, while maintaining a level of risk similar to that of the Parent index. The fund generally invests at least 90% of its assets in securities of the underlying index and in depositary receipts representing securities of the underlying index. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$65.79

Average Daily Volume

77,471

Number of Holdings ^*

815

* may have additional holdings in another (foreign) market

DES

SmallCap Dividend Fund

DES Description

The investment seeks to track the price and yield performance, before fees and expenses, of the WisdomTree SmallCap Dividend Index. Under normal circumstances, at least 95% of the fund's total assets (exclusive of collateral held from securities lending) will be invested in component securities of the index and investments that have economic characteristics that are substantially identical to the economic characteristics of such component securities. The index is a fundamentally weighted index measuring the performance of the small-capitalization segment of the U.S. dividend-paying market. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$34.01

Average Daily Volume

123,657

Number of Holdings ^*

565

* may have additional holdings in another (foreign) market

Performance

Period	SMLF	DES
30 Days	1.31%	-0.54%
60 Days	6.97%	4.04%
90 Days	8.42%	10.49%
12 Months	30.08%	26.05%

175 Overlapping Holdings

Symbol	Grade	Weight in SMLF	Weight in DES	Overlap
AAN	D	0.1%	0.07%	0.07%
ACA	C	0.09%	0.19%	0.09%
ACCO	C	0.12%	0.14%	0.12%
AEIS	D	0.01%	0.17%	0.01%
AGM	F	0.09%	0.16%	0.09%
AGX	B	0.06%	0.21%	0.06%
AIN	D	0.01%	0.14%	0.01%
ALX	C	0.12%	0.14%	0.12%
APOG	B	0.1%	0.22%	0.1%
ARCB	D	0.03%	0.11%	0.03%
ARCH	D	0.03%	0.11%	0.03%
AROC	C	0.11%	0.64%	0.11%
ASB	F	0.08%	0.42%	0.08%
ATEN	C	0.08%	0.12%	0.08%
AVNT	B	0.19%	0.48%	0.19%
AWR	B	0.12%	0.32%	0.12%
BANF	D	0.12%	0.24%	0.12%
BCO	A	0.08%	0.32%	0.08%
BDC	B	0.09%	0.21%	0.09%
BKE	C	0.12%	0.38%	0.12%
BKH	B	0.01%	0.6%	0.01%
BKU	D	0.0%	0.26%	0.0%
BLMN	F	0.07%	0.21%	0.07%
BOH	F	0.0%	0.29%	0.0%
BRC	C	0.18%	0.31%	0.18%
BRY	F	0.02%	0.1%	0.02%
BSIG	C	0.01%	0.04%	0.01%
CAKE	B	0.01%	0.27%	0.01%
CAL	F	0.09%	0.11%	0.09%
CASH	D	0.0%	0.07%	0.0%
CFFN	D	0.04%	0.11%	0.04%
CHCO	D	0.0%	0.19%	0.0%
CNMD	D	0.07%	0.1%	0.07%
CNO	C	0.15%	0.22%	0.15%
CNS	C	0.03%	0.71%	0.03%
CRAI	B	0.01%	0.16%	0.01%
CRC	B	0.09%	0.42%	0.09%
CRS	B	0.09%	0.47%	0.09%
CSWI	B	0.08%	0.24%	0.08%
CTBI	D	0.05%	0.14%	0.05%
CUZ	C	0.08%	0.37%	0.08%
CVBF	D	0.0%	0.28%	0.0%
CVI	F	0.04%	0.62%	0.04%
CXT	F	0.09%	0.2%	0.09%
DAN	F	0.03%	0.17%	0.03%
DBI	F	0.03%	0.07%	0.03%
DEI	A	0.0%	0.11%	0.0%
DIN	D	0.04%	0.09%	0.04%
DLX	F	0.07%	0.21%	0.07%
EGBN	C	0.0%	0.12%	0.0%
EIG	B	0.07%	0.12%	0.07%
EMBC	D	0.03%	0.12%	0.03%
ENR	B	0.01%	0.3%	0.01%
ENS	C	0.04%	0.24%	0.04%
EPAC	C	0.06%	0.1%	0.06%
EPC	F	0.01%	0.15%	0.01%
EPR	C	0.02%	0.84%	0.02%
EVTC	D	0.03%	0.08%	0.03%
EXPI	C	0.11%	0.09%	0.09%
FBP	D	0.21%	0.53%	0.21%
FHB	D	0.07%	0.41%	0.07%
FULT	D	0.0%	0.34%	0.0%
GEF	C	0.01%	0.25%	0.01%
GES	F	0.19%	0.22%	0.19%
GFF	B	0.12%	0.27%	0.12%
HCC	D	0.06%	0.13%	0.06%
HEES	D	0.07%	0.17%	0.07%
HI	F	0.08%	0.16%	0.08%
HNI	B	0.03%	0.29%	0.03%
HP	F	0.09%	0.28%	0.09%
HSII	B	0.26%	0.12%	0.12%
HSTM	B	0.04%	0.07%	0.04%
HTH	D	0.11%	0.1%	0.1%
HWC	D	0.07%	0.32%	0.07%
HWKN	A	0.06%	0.21%	0.06%
IBOC	D	0.09%	0.38%	0.09%
ICFI	C	0.11%	0.13%	0.11%
IDCC	A	0.07%	0.32%	0.07%
IMKTA	F	0.26%	0.07%	0.07%
IOSP	F	0.04%	0.21%	0.04%
IVT	B	0.15%	0.07%	0.07%
JACK	F	0.09%	0.09%	0.09%
JBSS	F	0.21%	0.19%	0.19%
JOE	D	0.23%	0.15%	0.15%
KAI	C	0.12%	0.16%	0.12%
KALU	D	0.01%	0.24%	0.01%
KFRC	F	0.18%	0.15%	0.15%
KFY	C	0.02%	0.22%	0.02%
KLG	D	0.04%	0.32%	0.04%
KLIC	D	0.11%	0.16%	0.11%
KRNY	D	0.02%	0.05%	0.02%
KSS	D	0.1%	0.6%	0.1%
KW	C	0.1%	0.1%	0.1%
LMAT	B	0.02%	0.15%	0.02%
LXP	D	0.08%	0.17%	0.08%
MAC	B	0.31%	0.19%	0.19%
MATX	B	0.19%	0.26%	0.19%
MC	C	0.0%	0.58%	0.0%
MCY	B	0.05%	0.27%	0.05%
MLAB	B	0.01%	0.09%	0.01%
MTRN	F	0.1%	0.1%	0.1%
NAVI	D	0.2%	0.17%	0.17%
NBTB	D	0.0%	0.18%	0.0%
NFBK	D	0.01%	0.06%	0.01%
NHI	C	0.05%	0.58%	0.05%
NRC	F	0.04%	0.06%	0.04%
NSSC	F	0.1%	0.11%	0.1%
NUS	F	0.02%	0.08%	0.02%
NWN	B	0.01%	0.26%	0.01%
NX	F	0.03%	0.07%	0.03%
OFG	D	0.29%	0.2%	0.2%
OGS	A	0.14%	0.58%	0.14%
OTTR	F	0.07%	0.36%	0.07%
OXM	F	0.07%	0.17%	0.07%
PCH	C	0.01%	0.16%	0.01%
PDCO	F	0.03%	0.28%	0.03%
PEB	D	0.01%	0.07%	0.01%
PFBC	D	0.0%	0.14%	0.0%
PGRE	D	0.17%	0.05%	0.05%
PHIN	D	0.08%	0.33%	0.08%
PIPR	C	0.3%	0.21%	0.21%
PK	D	0.06%	0.13%	0.06%
PNM	B	0.11%	0.44%	0.11%
POWL	A	0.29%	0.26%	0.26%
PRDO	D	0.0%	0.22%	0.0%
PRGS	B	0.18%	0.17%	0.17%
PZZA	D	0.05%	0.17%	0.05%
REVG	D	0.03%	0.14%	0.03%
RLJ	D	0.02%	0.06%	0.02%
RUSHA	C	0.05%	0.35%	0.05%
RYI	F	0.03%	0.08%	0.03%
SAH	D	0.04%	0.16%	0.04%
SCS	D	0.08%	0.22%	0.08%
SFBS	D	0.12%	0.21%	0.12%
SHO	D	0.02%	0.09%	0.02%
SKT	A	0.23%	0.22%	0.22%
SLG	C	0.46%	0.56%	0.46%
SLM	C	0.16%	0.34%	0.16%
SLVM	C	0.02%	0.43%	0.02%
SMG	B	0.23%	0.67%	0.23%
SPB	B	0.16%	0.29%	0.16%
SR	A	0.12%	0.55%	0.12%
SRCE	D	0.14%	0.14%	0.14%
SSTK	F	0.13%	0.13%	0.13%
SVC	F	0.04%	0.07%	0.04%
TDS	B	0.04%	0.34%	0.04%
TEX	F	0.19%	0.18%	0.18%
TGNA	B	0.08%	0.32%	0.08%
TILE	B	0.04%	0.11%	0.04%
TNC	F	0.07%	0.16%	0.07%
TNL	B	0.15%	0.55%	0.15%
TPB	B	0.03%	0.13%	0.03%
TPG	C	0.19%	0.6%	0.19%
TR	D	0.01%	0.12%	0.01%
TRMK	D	0.0%	0.18%	0.0%
TRN	C	0.06%	0.39%	0.06%
UMBF	C	0.12%	0.26%	0.12%
UTL	C	0.01%	0.2%	0.01%
UVE	C	0.03%	0.07%	0.03%
UVV	C	0.07%	0.32%	0.07%
VAC	D	0.06%	0.37%	0.06%
VGR	C	0.33%	0.61%	0.33%
VIRT	C	0.03%	0.4%	0.03%
VSH	F	0.11%	0.16%	0.11%
VSTS	D	0.02%	0.09%	0.02%
WAFD	D	0.12%	0.19%	0.12%
WD	C	0.03%	0.27%	0.03%
WGO	D	0.05%	0.14%	0.05%
WNC	F	0.08%	0.08%	0.08%
WOR	F	0.08%	0.26%	0.08%
WTI	D	0.01%	0.06%	0.01%
WTTR	D	0.05%	0.18%	0.05%
XHR	C	0.03%	0.07%	0.03%
XRX	F	0.23%	0.38%	0.23%
YOU	C	0.29%	0.22%	0.22%

SMLF Overweight 640 Positions Relative to DES

Symbol	Grade	Weight
EME	C	0.84%
EVR	C	0.72%
APP	B	0.7%
DECK	C	0.68%
BPOP	D	0.57%
JBL	D	0.55%
MANH	C	0.53%
WSM	C	0.52%
NTNX	D	0.5%
NVT	D	0.5%
RS	D	0.48%
SFM	A	0.48%
ALSN	A	0.48%
WING	B	0.47%
HRB	C	0.45%
AXON	A	0.45%
IDA	B	0.43%
CSL	A	0.42%
DKS	D	0.42%
MLI	B	0.41%
LPX	A	0.41%
FIX	B	0.41%
ORI	A	0.41%
CNM	F	0.41%
MSTR	C	0.41%
MEDP	F	0.4%
DUOL	B	0.4%
IOT	C	0.4%
VNO	B	0.4%
COOP	C	0.4%
AM	A	0.39%
COCO	C	0.39%
PCOR	D	0.38%
IBKR	A	0.37%
LBRDA	C	0.37%
BRX	B	0.37%
WFRD	F	0.37%
UTHR	B	0.37%
LAMR	C	0.36%
FR	C	0.35%
NTRA	B	0.35%
CR	C	0.34%
CHE	B	0.34%
CVNA	A	0.34%
GTLB	D	0.34%
TTEK	B	0.34%
JEF	B	0.34%
SOLV	D	0.33%
THC	C	0.33%
CAVA	C	0.32%
ANF	D	0.32%
EWBC	D	0.32%
ITT	B	0.32%
AYI	A	0.31%
WSO	B	0.31%
WK	D	0.31%
XRAY	D	0.31%
GGG	B	0.31%
SN	B	0.3%
DDS	D	0.3%
ALKS	C	0.3%
PSTG	F	0.3%
SPXC	C	0.3%
CROX	C	0.29%
MOD	C	0.29%
FLEX	B	0.29%
SIG	C	0.28%
GPK	B	0.28%
SMAR	A	0.27%
HALO	D	0.27%
JHG	C	0.27%
ENTG	D	0.27%
AN	B	0.27%
TPR	B	0.26%
PRI	A	0.26%
CHK	C	0.26%
R	C	0.26%
AMH	D	0.26%
LBTYA	B	0.26%
FCNCA	D	0.25%
TPX	B	0.25%
APA	F	0.25%
COKE	B	0.25%
CORT	B	0.25%
LSCC	D	0.25%
BLD	C	0.25%
HURN	C	0.24%
LNTH	C	0.24%
TREX	D	0.24%
UFPI	B	0.24%
STRL	C	0.24%
AGO	D	0.24%
BCC	B	0.23%
AMG	C	0.23%
ETSY	F	0.23%
RNR	A	0.23%
GAP	F	0.23%
HAS	A	0.23%
W	D	0.23%
INTA	C	0.23%
SRPT	F	0.23%
ESTC	F	0.23%
ARW	C	0.22%
AXSM	C	0.22%
AZPN	C	0.22%
DNLI	C	0.22%
BBWI	F	0.22%
AGCO	D	0.22%
OVV	F	0.22%
CPRX	C	0.22%
LIVN	D	0.21%
ONTO	C	0.21%
CBSH	D	0.21%
RPM	C	0.21%
AR	C	0.21%
CFR	D	0.21%
GPI	C	0.21%
CW	A	0.21%
ATKR	F	0.2%
HIW	C	0.2%
RMBS	F	0.2%
GLPI	B	0.2%
TKR	B	0.2%
ZION	D	0.2%
SANM	D	0.2%
RRX	C	0.2%
MUR	F	0.2%
EXLS	B	0.2%
AGNC	C	0.19%
HAE	D	0.19%
RRC	D	0.19%
HOG	C	0.19%
EXEL	C	0.19%
NDSN	B	0.19%
ELF	F	0.19%
BRKR	D	0.19%
M	F	0.19%
ACM	B	0.19%
LNW	F	0.18%
TDOC	D	0.18%
CWEN	A	0.18%
FROG	F	0.18%
WS	D	0.18%
KNSL	D	0.18%
PRG	C	0.18%
LUMN	C	0.18%
PDM	C	0.18%
DCI	B	0.18%
ALLE	A	0.17%
AIZ	A	0.17%
VOYA	A	0.17%
ATI	B	0.17%
RNG	F	0.17%
OC	B	0.17%
PI	B	0.17%
VCYT	C	0.17%
PVH	F	0.17%
EXTR	D	0.17%
USFD	C	0.17%
TOL	A	0.17%
ACLS	F	0.17%
FAF	B	0.17%
WCC	C	0.17%
KRG	C	0.17%
TTC	D	0.16%
CVCO	A	0.16%
BJ	D	0.16%
TOST	B	0.16%
SKY	A	0.16%
IGT	F	0.16%
ESAB	C	0.16%
HLI	B	0.16%
IONS	F	0.16%
PRKS	D	0.16%
SSD	C	0.16%
MMYT	D	0.16%
SATS	C	0.16%
RHI	D	0.16%
TPH	B	0.16%
SQSP	A	0.16%
BMI	A	0.16%
DTM	A	0.16%
AMR	F	0.15%
WTM	D	0.15%
NJR	C	0.15%
OMF	D	0.15%
RL	B	0.15%
SF	A	0.15%
ABG	D	0.15%
AY	B	0.15%
NOVT	D	0.15%
ONON	C	0.15%
KIM	C	0.15%
SPT	F	0.15%
ACLX	C	0.15%
GH	F	0.15%
NUVL	B	0.15%
ESI	B	0.15%
TNET	F	0.14%
CMC	C	0.14%
ODP	F	0.14%
BSY	D	0.14%
NSP	F	0.14%
MMSI	C	0.14%
SCI	C	0.14%
GME	D	0.14%
UA	B	0.14%
CRUS	D	0.14%
LRN	C	0.14%
BL	D	0.14%
RGLD	C	0.14%
INSP	C	0.14%
FYBR	C	0.14%
SBGI	B	0.14%
ENSG	D	0.14%
SPSC	D	0.13%
OGE	A	0.13%
HOV	C	0.13%
BRZE	F	0.13%
YEXT	B	0.13%
KRC	C	0.13%
VECO	F	0.13%
VSTO	D	0.13%
NOV	F	0.13%
BPMC	F	0.13%
GNRC	B	0.13%
WTS	B	0.13%
NYT	B	0.13%
CUBE	C	0.13%
RYAN	A	0.13%
GOLF	F	0.13%
FTAI	B	0.13%
DOCS	B	0.13%
IPAR	D	0.13%
HUN	B	0.13%
CBT	B	0.13%
BLKB	C	0.13%
MFA	C	0.13%
KBR	D	0.13%
THO	C	0.13%
NFG	A	0.13%
GATX	D	0.13%
XPO	F	0.13%
WMS	D	0.13%
VMI	B	0.13%
XNCR	D	0.13%
AA	C	0.13%
OLN	D	0.12%
CHX	F	0.12%
VRNS	C	0.12%
BWXT	A	0.12%
PCTY	C	0.12%
NNN	A	0.12%
QLYS	F	0.12%
LILA	B	0.12%
BCRX	D	0.12%
MAT	C	0.12%
DFIN	D	0.12%
WEN	C	0.12%
PTEN	F	0.11%
NTCT	C	0.11%
ACAD	F	0.11%
SON	D	0.11%
AIT	A	0.11%
CMPR	F	0.11%
WH	C	0.11%
BAND	F	0.11%
SYNA	F	0.11%
PARA	F	0.11%
CYTK	F	0.11%
UGI	C	0.11%
INSM	D	0.11%
BERY	C	0.11%
PCVX	B	0.11%
COUR	F	0.11%
OPCH	D	0.11%
OSCR	C	0.11%
EXPO	B	0.11%
WEX	C	0.11%
UPBD	F	0.1%
CARG	C	0.1%
TMHC	B	0.1%
INVA	B	0.1%
SAIA	D	0.1%
OHI	C	0.1%
FHI	C	0.1%
BASE	F	0.1%
WSC	D	0.1%
BC	C	0.1%
MTG	B	0.1%
NYCB	D	0.1%
WAL	C	0.1%
MATV	D	0.1%
IVZ	C	0.1%
SWN	C	0.1%
X	F	0.1%
LSTR	D	0.1%
LAZ	C	0.1%
EGP	D	0.1%
OII	D	0.1%
VMEO	C	0.1%
RDDT	C	0.1%
LOVE	B	0.1%
APG	F	0.09%
MPW	C	0.09%
CACC	F	0.09%
LBTYK	A	0.09%
HASI	C	0.09%
EEFT	F	0.09%
NSIT	C	0.09%
YETI	D	0.09%
BECN	F	0.09%
ALIT	D	0.09%
DNOW	F	0.09%
SITC	F	0.09%
MIDD	D	0.09%
MTN	D	0.09%
PLUS	C	0.09%
HIMS	C	0.09%
MCB	C	0.09%
CHDN	D	0.09%
LYFT	D	0.08%
TENB	F	0.08%
ASO	D	0.08%
AMPH	C	0.08%
LZ	D	0.08%
FLR	D	0.08%
GMS	D	0.08%
CRDO	C	0.08%
CARS	F	0.08%
CAR	D	0.08%
FLNC	C	0.08%
PD	F	0.08%
LGND	D	0.08%
NXST	D	0.08%
PBH	D	0.08%
ILPT	D	0.08%
MTSI	C	0.08%
PNFP	D	0.08%
PLNT	C	0.08%
DVAX	D	0.08%
MKSI	F	0.08%
BOX	C	0.08%
KN	D	0.08%
CUBI	F	0.08%
VFC	B	0.08%
VC	F	0.08%
VERA	C	0.08%
MDGL	F	0.08%
RGEN	F	0.08%
ELAN	D	0.08%
ASH	F	0.08%
MRC	D	0.08%
ALV	F	0.08%
ADEA	C	0.07%
CLH	C	0.07%
CEIX	B	0.07%
SNEX	C	0.07%
GCO	F	0.07%
TXRH	B	0.07%
APPF	C	0.07%
PEGA	C	0.07%
AZEK	B	0.07%
ANAB	D	0.07%
WLY	A	0.07%
SANA	F	0.07%
SM	F	0.07%
FLO	C	0.07%
ANGI	C	0.07%
HE	F	0.07%
EQC	D	0.07%
HOUS	C	0.07%
GKOS	C	0.07%
DH	F	0.07%
RIG	F	0.07%
RYN	C	0.07%
MASI	C	0.07%
CXW	F	0.07%
AIV	C	0.07%
VIR	F	0.07%
KNF	C	0.07%
VKTX	D	0.07%
SFL	D	0.07%
NTB	D	0.07%
MED	F	0.07%
CVLT	C	0.07%
OZK	F	0.07%
UNIT	C	0.07%
ACHC	F	0.07%
WYNN	B	0.07%
COTY	F	0.07%
POR	B	0.07%
GPMT	D	0.06%
MERC	D	0.06%
FN	C	0.06%
WBA	F	0.06%
NVST	D	0.06%
YELP	F	0.06%
APLS	F	0.06%
CENTA	F	0.06%
PEN	D	0.06%
CASY	D	0.06%
LFUS	C	0.06%
FIVN	F	0.06%
NXT	F	0.06%
OMI	F	0.06%
AMLX	D	0.06%
MDU	C	0.06%
AMN	F	0.06%
GEO	F	0.06%
AEO	C	0.06%
NBR	F	0.06%
LADR	D	0.06%
DOMO	F	0.06%
AMRX	A	0.06%
ADMA	B	0.06%
CC	D	0.06%
NARI	F	0.06%
AMPL	D	0.06%
STWD	C	0.06%
AVDX	F	0.05%
ITGR	C	0.05%
PFSI	C	0.05%
RCUS	F	0.05%
OLED	C	0.05%
ITRI	C	0.05%
MAN	D	0.05%
BKD	D	0.05%
ASAN	F	0.05%
BCPC	C	0.05%
VNT	F	0.05%
ACI	F	0.05%
AVAV	B	0.05%
EHC	B	0.05%
BEAM	F	0.05%
AMBC	F	0.05%
CERS	F	0.05%
RKT	B	0.05%
CNX	A	0.05%
FOLD	F	0.05%
ITCI	D	0.05%
BRBR	B	0.05%
LPG	F	0.05%
S	D	0.05%
LECO	F	0.05%
ZIP	D	0.05%
KOS	F	0.05%
SMTC	C	0.05%
MMS	A	0.05%
AFRM	C	0.05%
EYPT	F	0.05%
CELH	F	0.05%
PATH	D	0.05%
FUN	F	0.05%
IBP	C	0.05%
THR	F	0.05%
SITE	D	0.05%
KD	F	0.05%
IRTC	F	0.05%
MDXG	F	0.04%
CLVT	D	0.04%
OI	D	0.04%
SPRY	C	0.04%
FHN	D	0.04%
ACCD	F	0.04%
SLAB	D	0.04%
OPI	F	0.04%
QDEL	D	0.04%
TARS	C	0.04%
CGEM	F	0.04%
SOFI	C	0.04%
ARRY	F	0.04%
SNV	D	0.04%
DAWN	D	0.04%
AGYS	D	0.04%
PRGO	F	0.04%
OUT	C	0.04%
IVR	C	0.04%
RDFN	C	0.04%
AGS	D	0.04%
HELE	D	0.04%
NATL	D	0.04%
SNBR	C	0.04%
EVH	D	0.04%
WBS	D	0.04%
AVXL	D	0.04%
VITL	C	0.04%
FFIN	D	0.04%
HLF	F	0.04%
KREF	C	0.04%
STAG	D	0.04%
FCN	B	0.04%
ROKU	D	0.04%
SONO	D	0.04%
GIII	C	0.03%
QRTEA	F	0.03%
MOG.A	B	0.03%
TSE	C	0.03%
ALRM	F	0.03%
CIEN	B	0.03%
VNDA	F	0.03%
TCBI	C	0.03%
OFIX	D	0.03%
ATRC	D	0.03%
DNB	D	0.03%
MGNI	D	0.03%
ADT	D	0.03%
SNDX	F	0.03%
OPEN	F	0.03%
BILL	D	0.03%
CHRD	F	0.03%
LTH	C	0.03%
RGNX	F	0.03%
SGH	F	0.03%
TWO	D	0.03%
JELD	D	0.03%
SWIM	B	0.03%
BRSP	D	0.03%
UDMY	F	0.03%
CHWY	C	0.03%
TLRY	F	0.03%
RLI	A	0.03%
FLYW	F	0.03%
IDT	C	0.03%
BBIO	F	0.03%
QXO	F	0.03%
CORZ	C	0.03%
RPD	D	0.03%
FL	F	0.03%
RVMD	B	0.03%
CALX	C	0.03%
CDP	A	0.03%
ARWR	F	0.03%
PRO	F	0.02%
ERAS	D	0.02%
OSUR	F	0.02%
NTLA	F	0.02%
OSIS	B	0.02%
MSM	D	0.02%
RAMP	F	0.02%
KVYO	B	0.02%
BMBL	F	0.02%
CACI	A	0.02%
WOOF	C	0.02%
HMST	B	0.02%
OLPX	C	0.02%
NWL	D	0.02%
WTFC	C	0.02%
HAIN	C	0.02%
PII	D	0.02%
MTW	F	0.02%
EDR	A	0.02%
GPRO	D	0.02%
DYN	D	0.02%
MSA	D	0.02%
EVRI	B	0.02%
PR	F	0.02%
ARCT	D	0.02%
IRWD	F	0.02%
DOCN	C	0.02%
PTCT	C	0.02%
FSS	B	0.02%
AKRO	C	0.02%
CNDT	B	0.02%
TGTX	C	0.02%
DY	C	0.02%
PBF	F	0.02%
JANX	D	0.02%
SUPN	D	0.02%
CRSP	F	0.02%
GMED	D	0.02%
LANC	F	0.02%
ALHC	C	0.02%
VCEL	F	0.02%
VIAV	C	0.02%
AXTA	C	0.02%
SAFE	C	0.02%
IESC	B	0.02%
USNA	F	0.02%
AMCX	F	0.02%
CWK	C	0.01%
SFIX	F	0.01%
RBRK	F	0.01%
JOBY	F	0.01%
ZUO	F	0.01%
DINO	F	0.01%
MITK	F	0.01%
VAL	F	0.01%
PGEN	F	0.01%
TTGT	F	0.01%
SWI	C	0.01%
ARR	D	0.01%
OMER	F	0.01%
BIGC	F	0.01%
GO	F	0.01%
POWI	F	0.01%
FLWS	F	0.01%
OIS	F	0.01%
TDC	D	0.01%
ALGM	F	0.01%
ENVA	C	0.01%
JAMF	F	0.01%
HQY	B	0.01%
UPWK	D	0.01%
MBC	B	0.01%
VRE	C	0.01%
NGVT	D	0.01%
HTZ	F	0.01%
PYCR	D	0.01%
ROIV	D	0.01%
SWX	C	0.01%
HCAT	D	0.01%
SWTX	F	0.01%
AXS	A	0.01%
STGW	C	0.01%
ALAB	D	0.01%
GWRE	A	0.01%
BYD	C	0.01%
UNFI	B	0.01%
XPRO	F	0.01%
MBLY	F	0.01%
RHP	C	0.01%
NEXA	B	0.01%
ASGN	D	0.01%
RXT	C	0.01%
HXL	F	0.01%
SSB	C	0.01%
HYFM	D	0.0%
BFH	D	0.0%
SEE	B	0.0%
GDOT	C	0.0%
HPP	F	0.0%
RDN	D	0.0%
JXN	B	0.0%
UNM	A	0.0%
GNW	C	0.0%
BDN	A	0.0%
TBBK	C	0.0%
CMA	C	0.0%
AX	D	0.0%

SMLF Underweight 390 Positions Relative to DES

Symbol	Grade	Weight
OGN	D	-1.35%
TFSL	D	-0.83%
ALE	A	-0.76%
NSA	C	-0.74%
BNL	B	-0.71%
CCOI	B	-0.67%
EPRT	C	-0.64%
SBRA	C	-0.63%
FIBK	D	-0.62%
KNTK	C	-0.61%
JWN	D	-0.59%
KTB	B	-0.56%
VCTR	C	-0.55%
NWE	A	-0.53%
CRI	D	-0.5%
AVA	B	-0.49%
NOG	D	-0.47%
IIPR	C	-0.45%
PATK	B	-0.44%
CATY	D	-0.44%
LEG	D	-0.43%
FFBC	D	-0.42%
SHOO	A	-0.4%
LCII	B	-0.39%
KRO	C	-0.39%
MGEE	A	-0.38%
SEM	D	-0.35%
PPBI	D	-0.34%
SFNC	C	-0.34%
PINC	F	-0.33%
HRI	B	-0.33%
SXT	C	-0.33%
PFS	D	-0.32%
NWBI	D	-0.32%
UCBI	C	-0.32%
AUB	D	-0.31%
CBU	D	-0.31%
EBC	D	-0.3%
NHC	D	-0.3%
JJSF	A	-0.29%
STEP	A	-0.28%
RRR	D	-0.28%
WWW	B	-0.28%
AMSF	B	-0.27%
ABM	D	-0.27%
PBI	C	-0.27%
PTVE	D	-0.26%
KMPR	D	-0.26%
WDFC	C	-0.26%
MWA	B	-0.26%
PRK	D	-0.25%
FRME	D	-0.25%
INDB	D	-0.25%
WHD	B	-0.25%
KMT	C	-0.25%
LBRT	F	-0.25%
CPK	B	-0.24%
AESI	C	-0.24%
WSBC	D	-0.24%
CTRE	B	-0.24%
GRNT	F	-0.23%
CBRL	D	-0.23%
TOWN	D	-0.23%
IBTX	D	-0.22%
HOPE	D	-0.22%
BHE	C	-0.22%
CWT	D	-0.22%
STRA	F	-0.22%
SASR	C	-0.21%
WINA	D	-0.21%
VRTS	F	-0.21%
SJW	D	-0.21%
MCRI	B	-0.2%
CCS	C	-0.2%
MLKN	F	-0.2%
IRT	C	-0.2%
GVA	B	-0.2%
GBX	C	-0.2%
PEBO	D	-0.2%
MGRC	D	-0.2%
HTLF	C	-0.2%
VHI	B	-0.19%
ETD	B	-0.19%
CSGS	C	-0.19%
BANR	C	-0.19%
HL	C	-0.19%
NPO	C	-0.19%
WMK	D	-0.18%
ABCB	C	-0.18%
BTU	B	-0.18%
BGS	D	-0.18%
SCVL	C	-0.17%
CRGY	D	-0.17%
CABO	F	-0.17%
DK	F	-0.17%
PRIM	C	-0.17%
STC	C	-0.17%
GIC	D	-0.17%
PSMT	B	-0.17%
LZB	C	-0.17%
EBF	B	-0.17%
FCF	D	-0.16%
BGC	B	-0.16%
BANC	C	-0.16%
HY	F	-0.16%
GHC	B	-0.16%
AZZ	C	-0.16%
NGVC	B	-0.16%
WABC	F	-0.16%
STBA	D	-0.16%
SBCF	D	-0.16%
EGY	D	-0.15%
BUSE	D	-0.15%
OCFC	C	-0.15%
ULH	C	-0.15%
SXI	B	-0.15%
USLM	C	-0.15%
MNRO	C	-0.15%
ESE	B	-0.14%
RES	D	-0.14%
RNST	D	-0.14%
CWH	C	-0.14%
SPTN	B	-0.14%
JBT	B	-0.14%
REPX	D	-0.14%
UTZ	B	-0.14%
GABC	D	-0.14%
WERN	D	-0.14%
KWR	D	-0.14%
VBTX	C	-0.14%
HCKT	C	-0.13%
NPK	F	-0.13%
SAFT	D	-0.13%
WSFS	D	-0.13%
CALM	A	-0.13%
PLOW	C	-0.13%
NNI	C	-0.13%
GRC	B	-0.13%
SXC	F	-0.13%
SCL	D	-0.13%
ANET	B	-0.13%
HMN	C	-0.13%
MLR	D	-0.13%
FCPT	C	-0.12%
LKFN	D	-0.12%
ANDE	D	-0.12%
SBSI	D	-0.12%
BBSI	A	-0.12%
MSEX	C	-0.12%
PJT	C	-0.12%
LTC	C	-0.12%
NBHC	D	-0.12%
ASIX	B	-0.12%
CDRE	B	-0.12%
UNF	B	-0.12%
KRT	F	-0.12%
UWMC	D	-0.12%
USPH	F	-0.12%
HVT	F	-0.11%
SYBT	C	-0.11%
CSV	C	-0.11%
DNUT	D	-0.11%
EFSC	D	-0.11%
MYE	F	-0.11%
CNXN	C	-0.11%
SWBI	F	-0.11%
HAYN	B	-0.11%
FBNC	D	-0.11%
GTY	B	-0.11%
RBCAA	C	-0.11%
MTX	D	-0.11%
SMP	D	-0.11%
PFC	D	-0.11%
BRKL	D	-0.11%
SPOK	D	-0.1%
MCS	B	-0.1%
ATNI	C	-0.1%
PAHC	C	-0.1%
ALG	D	-0.1%
LMNR	C	-0.1%
BHLB	D	-0.1%
NVEC	F	-0.1%
TCBK	D	-0.1%
SCHL	D	-0.1%
MRTN	D	-0.1%
LNN	B	-0.1%
VSEC	D	-0.1%
UE	B	-0.1%
FBK	D	-0.1%
DCOM	C	-0.1%
AKR	B	-0.1%
NMRK	B	-0.1%
HLIO	C	-0.1%
DBRG	D	-0.1%
CMCO	D	-0.09%
RGR	F	-0.09%
HFWA	D	-0.09%
FISI	C	-0.09%
BELFB	B	-0.09%
BHRB	D	-0.09%
ODC	C	-0.09%
ASTE	F	-0.09%
MATW	F	-0.09%
HTBK	D	-0.09%
LYTS	B	-0.09%
YORW	D	-0.09%
WASH	D	-0.09%
AMSWA	C	-0.09%
MCBS	C	-0.08%
DRH	D	-0.08%
IMMR	D	-0.08%
TRST	D	-0.08%
ALEX	D	-0.08%
GCMG	C	-0.08%
TRAK	D	-0.08%
CPF	C	-0.08%
EE	A	-0.08%
HBT	D	-0.08%
ROIC	B	-0.08%
VLGEA	C	-0.08%
THFF	D	-0.08%
HBB	B	-0.08%
JBGS	C	-0.08%
MBWM	D	-0.08%
HBNC	D	-0.08%
PKOH	B	-0.08%
MSB	B	-0.08%
CVGW	B	-0.08%
FBMS	C	-0.08%
RDUS	D	-0.08%
HPK	F	-0.08%
NATH	A	-0.08%
MGPI	D	-0.08%
ARKO	C	-0.08%
FCBC	D	-0.08%
SD	F	-0.08%
WEYS	C	-0.08%
MPX	D	-0.08%
KELYA	D	-0.08%
MBIN	D	-0.08%
LOB	C	-0.08%
CTS	D	-0.08%
SHYF	D	-0.08%
SGC	F	-0.07%
PLPC	D	-0.07%
DEA	D	-0.07%
ARTNA	D	-0.07%
HTLD	F	-0.07%
PKE	F	-0.07%
RGP	F	-0.07%
RNGR	C	-0.07%
RUSHB	C	-0.07%
UMH	C	-0.07%
GTN	D	-0.07%
MOV	F	-0.07%
TRS	D	-0.07%
GWRS	D	-0.07%
METC	D	-0.07%
AAT	C	-0.07%
ESRT	C	-0.07%
UTMD	F	-0.06%
DHIL	C	-0.06%
RCKY	C	-0.06%
ZEUS	F	-0.06%
OFLX	D	-0.06%
SLP	F	-0.06%
NTST	D	-0.06%
EML	B	-0.06%
HAFC	D	-0.06%
JOUT	F	-0.06%
GNE	D	-0.06%
FF	B	-0.06%
IBCP	D	-0.06%
CLB	D	-0.06%
NIC	D	-0.06%
KOP	F	-0.06%
CMP	D	-0.06%
CNOB	C	-0.06%
SAVE	F	-0.06%
BY	D	-0.06%
ITIC	C	-0.06%
MMI	C	-0.06%
WSR	B	-0.05%
HQI	C	-0.05%
CTO	D	-0.05%
BSRR	D	-0.05%
CAC	C	-0.05%
EPM	C	-0.05%
ESCA	D	-0.05%
FFIC	D	-0.05%
QCRH	D	-0.05%
MEI	D	-0.05%
ALRS	C	-0.05%
MSBI	D	-0.05%
SHEN	F	-0.05%
AMRK	B	-0.05%
CCNE	D	-0.05%
FMBH	D	-0.05%
IIIN	F	-0.05%
NRIM	C	-0.05%
NEWT	D	-0.05%
ALCO	D	-0.05%
BFS	B	-0.05%
CSR	D	-0.05%
RICK	F	-0.05%
AMAL	D	-0.05%
RGCO	C	-0.05%
GSBC	D	-0.04%
HURC	C	-0.04%
OSBC	D	-0.04%
BSVN	D	-0.04%
DHC	B	-0.04%
FRST	D	-0.04%
RELL	C	-0.04%
GMRE	C	-0.04%
PLYM	D	-0.04%
PGC	D	-0.04%
ORRF	C	-0.04%
LCUT	F	-0.04%
DGICA	B	-0.04%
SMBK	C	-0.04%
LAKE	D	-0.04%
HOFT	D	-0.04%
FSBC	C	-0.04%
ARC	B	-0.04%
CLAR	F	-0.04%
EQBK	C	-0.04%
BFC	D	-0.04%
CBL	D	-0.04%
NC	F	-0.04%
TWIN	F	-0.04%
FLIC	C	-0.04%
RM	C	-0.04%
OBK	F	-0.04%
ALTG	F	-0.04%
EVC	D	-0.04%
HCI	C	-0.04%
CHCT	F	-0.03%
LAND	D	-0.03%
PKST	D	-0.03%
CLDT	D	-0.03%
FSBW	D	-0.03%
BHB	D	-0.03%
BMRC	D	-0.03%
CZNC	D	-0.03%
PSTL	C	-0.03%
CSPI	F	-0.03%
WTBA	D	-0.03%
CIVB	C	-0.03%
BSET	C	-0.03%
UFCS	D	-0.03%
GNTY	D	-0.03%
ACU	F	-0.03%
OLP	C	-0.03%
HONE	D	-0.03%
BRT	D	-0.03%
AHH	F	-0.03%
OPY	D	-0.03%
PHX	C	-0.03%
SMBC	D	-0.03%
TIPT	C	-0.03%
TSQ	F	-0.03%
FMNB	D	-0.03%
AMTB	F	-0.03%
SHBI	D	-0.03%
CASS	D	-0.03%
SSBK	D	-0.02%
PINE	C	-0.02%
RRBI	D	-0.02%
NBN	B	-0.02%
CBNK	C	-0.02%
FBIZ	C	-0.02%
ISTR	C	-0.02%
III	F	-0.02%
CATO	D	-0.02%
VOC	D	-0.02%
FPI	D	-0.02%
SPFI	D	-0.02%
RMR	B	-0.02%
AROW	D	-0.02%
NECB	B	-0.02%
SGA	F	-0.02%
FRBA	D	-0.02%
UNTY	C	-0.01%
FDBC	D	-0.01%
OBT	C	-0.01%
INBK	D	-0.01%
PLBC	C	-0.01%
MBCN	C	-0.01%
FNWB	D	-0.0%